All Pensions articles – Page 10
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OpinionNaomi Brown: Should pension scheme trustees think of their members as customers?
How was your pension scheme experience today? We are all used to businesses telling us that we are valued customers, asking us for feedback, how likely we would be to recommend them to a friend, or simply to rate our experience by choosing from 🙂😐☹️.But is it time for pension ...
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ArticleGovernment extends pensions dashboard connection deadline
The UK government has issued an update on its planned pensions dashboards programme, stating that it needs additional delivery time and its connection deadline will be 31 October 2026.It stated that this is in recognition of the fact that the requirement to connect to the digital architecture should remain mandatory ...
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ArticleNatwest Group completes acquisition of Cushon
Credit: William Barton / Shutterstock.comBanking organisation Natwest Group has completed its acquisition of a majority shareholding in workplace savings and pensions fintech Cushon.The group agreed to acquire 85% of Cushon for £144 million back in February, with 15% retained by management. It was approved by the Financial Conduct Authority (FCA) ...
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Case StudiesThe benefits offered by XDesign
Benefits on offer at XDesign:Pension and group riskGroup personal pension (GPP) plan with salary sacrifice arrangement for all employees. Employer and employee contributions of 4%, matched up to 5%.Life insurance.Critical illness leave at full pay for the first six months, and half pay for the following six to nine months.Healthcare ...
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Supplier articleThe benefits of salary sacrifice schemes.
We ask Jonathan Watts-Lay, Director, WEALTH at work, what he thinks are the main benefits of salary sacrifice schemes.Jonathan Watts-Lay, Director, WEALTH at work, comments, “One way to save money is by paying for things through your company payroll using your pre-tax salary, so you pay less income tax and ...
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ArticleStella McCartney and Herbert Smith Freehills shortlisted for Best pensions strategy
Fashion brand Stella McCartney and law firm Herbert Smith Freehills are among those employers on the shortlist for Best pensions strategy at the Employee Benefits Awards 2023.This award was created to recognise businesses that have developed a pensions strategy which best meets the needs of employees, whether that includes reviewing ...
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ArticleThomas Cook completes £900 million pension buy-in
Travel business Thomas Cook has completed a £900 million bulk purchase annuity buy-in transaction for its UK pension scheme.Aviva insured the defined benefit (DB) pension liabilities for more than 12,500 scheme members following the liquidation of the business in 2019. There were 12,693 members in total, consisting of 8,421 deferred ...
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ArticleThe top 10 most-read articles between 28 April - 4 May 2023
The top 10 most-read articles on www.employeebenefits.co.uk between 28 April and 4 May 2023 were: Ovo Energy launches flexible bank holidaysGlaxoSmithKline plant employees strike after rejecting 6% pay dealCo-op introduces enhanced flexible compassionate leaveNHS Staff Council agrees to 5% pay increase for health workers in EnglandCadent accredited as menopause-friendly employerEXCLUSIVE: ...
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ArticleQuarter of large employers have seen increase in pension scheme opt-outs
A quarter (26%) of large employers have seen an increase in the number of pension scheme opt-outs among employees in the face of the cost-of-living crisis, according to research by Cushon.The research, conducted among more than 2,000 UK organisations employing 500-plus employees, found that pension scheme opt-outs were one of ...
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Supplier articleLooking to the future understanding retirement
Picture this: you’re of retirement age and reclining on your armchair (let’s throw in an ottoman too) and you’re flicking through the pages of a crisp new book beside a roaring fire. You think to yourself:“Wow, I'm glad I contributed to my retirement pot”.With rising cost of living, impending energy ...
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ArticleCoastline Housing receives living pension accreditation
Cornish charitable housing association Coastline Housing has received living pension accreditation from the Living Wage Foundation.Launched last month, the living pension is a voluntary savings target for employers who want to help workers build up a pension that will provide enough income for everyday needs in retirement. The target is ...
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OpinionOliver Topping: What do employers need to know about pensions dashboards?
Pensions dashboards will give employees more visibility than ever before regarding their retirement savings. All pension pots, and the state pension, will be shown digitally in one place.What does this mean for employers?Dashboards will take a lot of work to get up and running. But it’s pension schemes, not employers, ...
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AnalysisWhat is the current state of play with pensions dashboards?
Need to know:The Department for Work and Pensions announced a delay to the delivery of the pensions dashboard programme in March 2023.Employers should use this additional time to make sure they have their data up-to-date, in order and correct.Employers should also consider their communications and resources; once the dashboard project ...
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ArticleThe Pensions Regulator authorises UK's first CDC pension scheme
The Pensions Regulator (TPR) has assessed and authorised the UK's first collective defined contribution (CDC) pension scheme.The Royal Mail Collective Pension Plan (RMCPP) was the first to be added to the newly published list of authorised CDC pensions on TPR's website.The regulator authorised the scheme in order to continue with ...
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ArticleThe Oak Trust loses age discrimination and unfair dismissal case
A school manager at The Oak Trust in Oldham, Lancashire, who lost her job days before she was eligible for her pension, has won an age discrimination and unfair dismissal case.Suzanne Millar started working as a school business manager at Fir Bank Primary School, which is owned by the trust, ...
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AnalysisHow have pension freedoms impacted retirement planning?
Need to know:Increasing education about pensions is key to helping employees make the right decisions about accessing their pension savings early.The ability to access pension funds early could prompt changes to the way that pension providers invest for their members.New initiatives, such as the Living Pension, provide an opportunity for ...
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Case StudiesFlaunt Digital raises awareness of retirement planning through pensions communication
Pensions are not usually at the forefront of the minds of young employees, yet early engagement with the subject could make accruing sufficient retirement funds much more likely.Digital marketing firm Flaunt Digital provides pensions education and information for its 30-strong workforce whose average age is 30. The Leeds-based firm recently ...
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ArticleDeutsche Bank completes £400 million bulk purchase annuity buy-in
Banking group Deutsche Bank has completed a £400 million bulk purchase annuity buy-in transaction for its UK pension scheme.Aviva insured the defined benefit (DB) pension liabilities for nearly 1,300 scheme members, removing the investment and longevity risk. As a result of the deal, they will experience no change in the ...
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Supplier articleIreland pension auto-enrolment
Next January, all going well, approximately 750,000 workers in Ireland will start being automatically enrolled into a new workplace pension scheme that will be co-funded by their employers and the State.The scheme is aimed at addressing the national pension coverage gap. It’s estimated that just 56% of the working population ...
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ArticleBuyer's guide to group personal pension schemes
What is a group personal pension (GPP)?A group personal pension is a defined contribution (DC) arrangement whereby an employer agrees to make monthly contributions into a scheme, but the contract is between the employer and the pension provider.The pension freedoms that were announced in the 2014 Budget, and came into ...